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Nov 23, 2012
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so-called fiscal cliff. despite optimism from both sides, they remain far apart on what to do about revenues with the white house saying the bush era tax rates should expire and republicans insisting any new revenues come from closing loopholes in the tax code. kristen welker joining us from the white house. he said the talks said to be stalled. what is the white house saying? >> reporter: they certainly know this is going to be a tough slog. certainly you had this sort of sense of bipartisanship after the leaders came to the white house. it seems as though that has gone awe with democrats digging in their heels on the issue of entit entitle. s and republicans on taxes. congress talking about some types of compromises, one that would include rolling back tax breaks for big corporations and wealthy americans as you just talked about. another one would potentially roll back the bush era tax cuts but instead of allowing rates to go back up to the clinton levels of 39%, maybe they would go back to 37%. these are
so-called fiscal cliff. despite optimism from both sides, they remain far apart on what to do about revenues with the white house saying the bush era tax rates should expire and republicans insisting any new revenues come from closing loopholes in the tax code. kristen welker joining us from the white house. he said the talks said to be stalled. what is the white house saying? >> reporter: they certainly know this is going to be a tough slog. certainly you had this sort of sense of...
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Nov 23, 2012
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the so-called fiscal cliff. that combination of tax hikes and spending cuts many economists warn could throw this country back into a recession. the president and top congressional leaders met at the white house and it appeared they made progress. since then talks have hit a bit of a rough patch. joining me from louisville kentucky, for a progress report of sorts on whether negotiations stand right now, kentucky congressman john yarmuth. good afternoon to you. >> good afternoon. where do the negotiations stand right now? >> right now, this is something where the staffs of the leadership in both the house and senate and white house are trying to work through possible think they're making a lot of progress and, for instance, one of the ideas that was brought up by republicans was, just eliminate the preferences on the first $380,000 worth of income for those people making more than that and charge everybody 35%, which means that people wouldn't have to vote to raise the highest rate. the problem with that is peopl
the so-called fiscal cliff. that combination of tax hikes and spending cuts many economists warn could throw this country back into a recession. the president and top congressional leaders met at the white house and it appeared they made progress. since then talks have hit a bit of a rough patch. joining me from louisville kentucky, for a progress report of sorts on whether negotiations stand right now, kentucky congressman john yarmuth. good afternoon to you. >> good afternoon. where do...
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is there the chance that that could be the trouble for the president or could a fiscal cliff deal on top of re-election get him any political capital to flex some political muscle? >> well, i hope it was the latter. i was at the white house when the republicans took down clinton's nominee. i watched as they took down senator tower who was to become the republican secretary of defense. both parties do this unfortunately after an election. the losing party almost seeming to want some sort of sacrificial lam out there. i hope this, that what this nation most wants is to have trust once again in washington, d.c. it's a part of the program down in washington that doesn't seem to be there. while i have great respect for senator mccain who threatened to filly buster this. i couldn't have done what he did as a prisoner of war. as a fellow naval officer. i would ask him accountability for the overall public good not the party. i hope that unless he can show with firmness that there is a fact, there is some sort of issue out there that really isn't a political assertion, a partisan issue, that
is there the chance that that could be the trouble for the president or could a fiscal cliff deal on top of re-election get him any political capital to flex some political muscle? >> well, i hope it was the latter. i was at the white house when the republicans took down clinton's nominee. i watched as they took down senator tower who was to become the republican secretary of defense. both parties do this unfortunately after an election. the losing party almost seeming to want some sort...
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Nov 23, 2012
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. >>> up next, with juks weeks to go to the so-called fiscal cliff, can congress cook up the right deal with all the fixings? >>> plus, can economic uncert n uncertainty in d.c. score with the black friday deals. ? news. presenting androgel 1.62%. androgel 1.62% is from the makers of the number one prescribed testosterone replacement therapy. it raises your testosterone levels, and... is concentrated, so you could use less gel. and with androgel 1.62%, you can save on your monthly prescription. [ male announcer ] dosing and application sites between these products differ. women and children should avoid contact with application sites. discontinue androgel and call your doctor if you see unexpected signs of early puberty in a child, or, signs in a woman which may include changes in body hair or a large increase in acne, possibly due to accidental exposure. men with breast cancer or who have or might have prostate cancer, and women who are, or may become pregnant or are breast feeding should not use androgel. serious side effects include worsening of an enlarged prostate, possible increas
. >>> up next, with juks weeks to go to the so-called fiscal cliff, can congress cook up the right deal with all the fixings? >>> plus, can economic uncert n uncertainty in d.c. score with the black friday deals. ? news. presenting androgel 1.62%. androgel 1.62% is from the makers of the number one prescribed testosterone replacement therapy. it raises your testosterone levels, and... is concentrated, so you could use less gel. and with androgel 1.62%, you can save on your...
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Nov 23, 2012
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lawmakers have just five weeks to get a deal to stop us from going over the fiscal cliff. i want to bring in msnbc contributor robert traynham and a democratic strategist. hi, guys. good to see you. happy day after. david, there is a lot of lobbying. the unions are running ads, don't cut medicare and medicaid. at the same time the defense industry, manufacturers, they're lobbying against cuts. afraid jobs will be lost for the people who make the weapons. the list goes on and on. so how does this shape a potential deal? >> well, there's pressure from both sides. negotiators in congress right now from both parties are trying to find a way to avoid the cliff. that could be a temporary way to do that and come back over tax reform next year. i think what the signs are that the president wants to raise tax rates on the wealthiest 2% of earners, a balanced approach, but the republican party is saying, hey, wait a minute. let's close tax loopholes, close deductions. that's a better way. so i think they are looking for are a path down the middle. >> doug, try to reconcile all of th
lawmakers have just five weeks to get a deal to stop us from going over the fiscal cliff. i want to bring in msnbc contributor robert traynham and a democratic strategist. hi, guys. good to see you. happy day after. david, there is a lot of lobbying. the unions are running ads, don't cut medicare and medicaid. at the same time the defense industry, manufacturers, they're lobbying against cuts. afraid jobs will be lost for the people who make the weapons. the list goes on and on. so how does...
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Nov 23, 2012
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is it the fiscal cliff? or does it look like the fiscal bungee cord? that's what some people are calling it. we go over for two weeks and then we snap back and get a deal and what does that deal look like? >> a lot of positive talk following the election. even bill kristol talking about let's feel free to raise taxes if it's part of a bigger deal. a lot of elections don't have consequences, midterm elections. this was supposed to be a status quo election. but something happened here. i think the fever is starting to break. >> absolutely. you're going to see it, i think, on immigration reform, and i think you're going to see it on spending and taxation. and you don't have to effect or change basic tax rates. as you know, there's all sorts of things you can do on so-called tax expenditure dealing with home mortgage deductions, dealing with state and local taxes. also there's things obviously on the spending side, entitlements and domestic spending, this isn't that hard. this is, if you will, a mini-package. this isn't necessarily on the scale of simpson-
is it the fiscal cliff? or does it look like the fiscal bungee cord? that's what some people are calling it. we go over for two weeks and then we snap back and get a deal and what does that deal look like? >> a lot of positive talk following the election. even bill kristol talking about let's feel free to raise taxes if it's part of a bigger deal. a lot of elections don't have consequences, midterm elections. this was supposed to be a status quo election. but something happened here. i...